Bill S.1361
188th (2013 - 2014)

An Act relative to tax deductions for contributions to college savings plans.

Bill Title: An Act relative to tax deductions for contributions to college savings plans.

By Mr. Knapik, a petition (accompanied by bill, Senate, No. 1361) of Michael R. Knapik, Bruce E. Tarr, Robert L. Hedlund, Richard J. Ross and other members of the General Court for legislation relative to tax deductions for contributions to college savings plans. Revenue.

SECTION 1. Paragraph (a) of Part B of section 3 of chapter 62 of the General Laws, as appearing in the 2010 Official Edition, is hereby further amended by adding the following paragraph:-

(16) Contributions to qualified tuition program under Section 529 of the Code, such as the U.Fund or the U.Plan offered through the Massachusetts Educational Financing Authority; but in the case of a single person, a married person filing a separate return or a head of household the deduction shall not exceed $500, and in the case of a married couple filing a joint return, the deduction shall not exceed $1,000.

The information contained in this website is for general information purposes only. The General Court provides this information as a public service and while we endeavor to keep the data accurate and current to the best of our ability, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

Unsupported Bill Output Format

The document text is in an unsupported format to view in a browser.

Please use the "Download PDF" link if you wish to View/Print this document.